AnkrETH is Now Integrated on Mode Network

Ankr Staking Team

Ankr Staking Team

March 6, 2024

3 min read

In Brief

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    Ankr is thrilled to unveil its latest collaboration with Mode, marking a significant milestone in expanding the utility and adoption of ankrETH. This introduces an innovative way for staked Ethereum (ETH) holders to further capitalize on their investments by earning ankrETH on the Mode network, paving the way to explore increased yield farming possibilities across different chains.

    Expanding Yield Returns with Mode

    The integration of ankrETH with Mode represents a pioneering step in the DeFi space , enabling users to unlock their liquidity on the rising network.

    By participating in the Mode network, users can now earn ankrETH rewards, which can be utilized to explore additional yield-generating opportunities across a wide array of DeFi platforms. This approach enhances the asset’s use cases and liquidity, which will consequently increase stakers’ returns.

    How Does the Ankr-Mode Collaboration Work?

    Under this partnership, Ankr will utilize its advanced staking infrastructure to support the Mode network, enabling seamless bridge of ankrETH from Ethereum to Mode Network. This process maintains the liquidity of users' assets while amplifying their earning potential by integrating them into Mode's expansive DeFi ecosystem.

    The partnership is built on the foundation of mutual technological advancement, with Ankr providing the necessary infrastructure and Mode offering a dynamic platform for yield optimization.

    unnamed.png [1] - Ankr Bridge Dashboard, displaying ankrETH bridge from Mainnet to Mode Network (Source)

    A game-changer for DeFi users and ETH stakers

    This integration is a game-changer for ETH stakers and Mode Network DeFi users. It diversifies the avenues for earning yields and strengthens the overall ecosystem by introducing more liquidity and stability.

    By facilitating the earning of ankrETH on the Mode network, Ankr and Mode are effectively opening up new possibilities for yield farming, lending, and other DeFi activities, thereby enhancing the value proposition of staked ETH.

    About Mode

    Mode is a Modular DeFi Layer 2 (L2) solution, working in close collaboration with Optimism to construct the Superchain, a unified ecosystem of L2 networks built using the same development framework.

    Mode's architecture is designed to facilitate the seamless deployment of applications by anyone familiar with Ethereum Virtual Machine (EVM) chains, thereby significantly lowering the entry barrier for developers looking to innovate within the DeFi space.

    At the heart of Mode's value proposition is its focus on building new on-chain economic systems that are intended to help developers scale their applications and offer users higher yields. This is achieved through a combination of hands-on support for developers to scale their applications and predictable revenue streams, such as sequencer fee sharing and developer airdrops.

    Moreover, Mode stands out for its implementation of economic mechanisms like Sequencer Fee Sharing and Developer Airdrops, aimed at rewarding those who contribute to the ecosystem's expansion.

    Looking Ahead: Expanding the ETH Staking Ecosystem

    The integration of ankrETH with Mode is just the beginning of a broader effort to expand and enrich the DeFi ecosystem. Ankr continues to explore new collaborations and technologies to enhance the utility and performance of staked assets. This collaboration serves as a blueprint for future innovations, aiming to unlock even more value for the global DeFi community.

    Stay updated with the latest developments by joining Ankr's community channels and participating in the conversation about the future of DeFi and staking.

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